Oak Forest Industrial Building For
16420 KILBOURN Avenue, Oak Forest, IL 60452
COMMERCIAL - Oak Forest, IL
Property size:
20,025 SFLot size:
1.31 AcresPrice / SF:
$84/SF- Added:
- Mar 25, 2026
- Days on Market:
- 59
- Last Refresh:
- May 22 at 1:06 pm
Property Features for 16420 KILBOURN Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- INDUS
- Standard status
- Active Under Contract
- APN
- 28224240140000
- Size
- 20,025 SF
- Lot size
- 1.31 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Annual Amount
- 24859
Utilities
- Utilities
- Water Available
- Cooling system
- Central Air
Building Details
- Year built
- 1977
- Floors in Building
- 1
- Number of units
- 1
- Flooring type
- Concrete, Carpet, Tile
- Building materials
- Brick, Concrete, Steel Siding
Listing agent Ruben Vallejo License #475130714 (708) 478-1212
Listing office Village Realty, Inc. 20950 S. Frankfort Sq Rd # C, Frankfort, IL (708) 478-1212
Listing date Mar 25, 2026
MLS# 12452259
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Cook County 6B Property Tax Incentive in place for 7 years and renewable.
- Excellent location with easy and quick access to I‑57, I‑80, I‑294 and I‑94.
- Stand‑alone 20,025 SF industrial building with 4,500 SF of office space on a 1.3‑acre lot.
- Two interior docks and one drive‑in door.
- 800 Amp and 3 Phase Service.
- Zoned I‑1 Industrial with 18 ft clear ceiling height and fire sprinkler system.
Overview
This stand-alone industrial building in Oak Forest features two interior docks and one drive-in door. The building encompasses 20,025 square feet, including approximately 4,500 square feet of office space, situated on a 1.3-acre lot. It is zoned I-1 Industrial. The office area includes a main office, conference room, space for cubicles, a vestibule, an IT room, a kitchen and lunchroom, a blueprint room, a shop manager's office, four bathrooms, and a storage loft area. The warehouse has a demising wall separating it from the manufacturing area. The ceiling height is 18 feet clear. The entire building is fire sprinklered and freshly painted. It benefits from a Cook County 6B property tax incentive, which has 7 years remaining and is renewable. New carpet and ceiling tiles have been installed, and the warehouse has been partially painted. Newer LED lights with motion sensors are in place. All racks and office furniture will remain. The property offers ample parking and provides easy and quick access to I-57, I-80, I-294, and I-94. The building is equipped with 800 amp and 3-phase service.
Financial Insights
Value Estimation Calculated for Warehouse
Conservative
$1.16M
NOI $104,673 @ 9.00% cap · cautious / downside scenario
Moderate
$1.50M
NOI $104,673 @ 7.00% cap · market / base-case scenario
Aggressive
$2.09M
NOI $104,673 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Warehouse
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $129.8k | $6.48 |
| − Vacancy | −$6.6k | −$0.33 |
| EGI | $123.1k | $6.15 |
| − OpEx | −$18.5k | −$0.92 |
| NOI | $104.7k | $5.23 |
20,025 SF · lease $6.48/SF/yr · vacancy 5.10% · expense 15.00%
Alternative Use Scenarios
Best Use
Warehouse
$1.50M
$1.31M – $1.74M
NOI $104,673 @ 7.0% cap · market cap 6.16%
Second Best
Industrial
$1.23M
$1.08M – $1.44M
NOI $86,201 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$6.91M
$6.05M – $8.07M
NOI $483,960 @ 7.0% cap · market cap 28.48%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Manufacturing properties
Map
- City
- Oak Forest
- County
- Cook
- State
- Illinois
- Longitude
- -87.7549
- Latitude
- 41.6061
Nearby Similar for Sale
FAQs
What type of property is this?
Manufacturing property - 20,025 SF industrial building with office space on 1.3-acre lot.
Where is this manufacturing property located?
The property is located at 16420 KILBOURN Avenue Oak Forest, IL.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Cook County 6B Property Tax Incentive in place for 7 years and renewable.; Excellent location with easy and quick access to I‑57, I‑80, I‑294 and I‑94.; Stand‑alone 20,025 SF industrial building with 4,500 SF of office space on a 1.3‑acre lot.
